Geode Capital Management LLC Buys 23,358 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Geode Capital Management LLC increased its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,130 shares of the company's stock after acquiring an additional 23,358 shares during the period. Geode Capital Management LLC owned about 1.32% of PC Connection worth $26,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of PC Connection in the third quarter worth about $28,000. Signaturefd LLC increased its stake in shares of PC Connection by 328.1% in the 3rd quarter. Signaturefd LLC now owns 488 shares of the company's stock valued at $37,000 after buying an additional 374 shares during the period. CWM LLC raised its position in shares of PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company's stock worth $64,000 after acquiring an additional 473 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of PC Connection by 1,000.0% during the third quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock valued at $83,000 after acquiring an additional 1,000 shares during the period. Finally, Intech Investment Management LLC bought a new position in PC Connection in the third quarter valued at about $243,000. Institutional investors and hedge funds own 42.85% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of PC Connection from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th.

PC Connection Stock Down 1.4 %

Shares of PC Connection stock traded down $1.00 during trading on Friday, reaching $69.47. 47,804 shares of the company were exchanged, compared to its average volume of 79,936. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.14 and a beta of 0.66. The business has a 50-day moving average price of $71.45 and a 200-day moving average price of $70.03. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19.

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection's dividend payout ratio (DPR) is 11.73%.

Insider Activity at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 56.90% of the stock is owned by corporate insiders.

PC Connection Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.